Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What impact, if any, will applying for the new Wachovia Credit Card or closing my existing card have on my credit rating?

April 26, 2017card closing credit card Credit rating existing impact Wachovia

0

Posted

What impact, if any, will applying for the new Wachovia Credit Card or closing my existing card have on my credit rating?

1 Answer

0

Posted

You may be specifically referring to your FICO score that is used by many lenders, including Wachovia, as a factor to determine your credit risk. According to www.myFICO.com, applying for new credit will not necessarily have a negative impact on your credit score. Even if applying for a new credit account causes your score to drop, it may only drop by a few points. For more information about credit ratings and how they are affected by opening credit card accounts, visit www.myFICO.com.